Many students look forward to a big refund at tax time, however, a big refund is actually interest-free money given to the government. Students who are below the Basic Personal Amount (i.e. $13,808 in 2021) could complete a TD1 form. This form reduces the amount that an employer withholds from a student's pay thus allowing students to instead use this money to invest and earn interest on it.

1. True
2. False